Sensex, Nifty Rise On Upbeat Inflation, Industrial Output Data
(RTTNews) - Indian shares rose notably on Tuesday as positive macro data offset mixed cues from global markets.
Sentiment was underpinned after data showed India's retail inflation softened to a three-month low of 5.1 percent in January on moderating food price growth.
Separate data revealed that India's industrial output rose at a faster-than-expected pace of 3.8 percent year-on-year in December after easing sharply in the previous month.
Global cues were mixed, while the dollar and bond yields were unchanged as investors awaited U.S. CPI data due later in the day, expected to show a further slowing of price pressures.
The Labour Department's CPI report may show a further slowing of price pressures, with the annual increase in inflation expected to fall below 3 percent for the first time since 2021.
The benchmark S&P BSE Sensex ended the session up 482.70 points, or 0.68 percent, at 71,555.19 while the broader NSE Nifty index settled 127.20 points, or 0.59 percent, higher at 21,743.25.
Banks and financials saw broad-based gains, with HDFC Life, Axis Bank and ICICI Bank all rising over 2 percent.
Coal India jumped 4.7 percent after reporting a 17 percent increase in Q3 consolidated net profit.
Hindalco slumped 12.5 percent after its subsidiary Novelis revised upward its Bay Minette project capex by 65 percent and also suggested a one-year delay.
Grasim followed suit with a 3.7 percent loss while Divis Laboratories, UltraTech Cement and BPCL all fell around 1 percent.
Canadian Market Marginally Down As Stocks Swings Between Gains And Losses
Chicago Business Barometer Climbs More Than Expected But Still Indicates Contraction
Eurozone Inflation Softens On Energy Prices
Bay Street May Open On Positive Note
FTSE 100 Modestly Lower; Bank Stocks Among Notable Losers
CAC 40 Modestly Lower In Cautious Trade After Inflation Data
UK Nationwide House Price Growth Softens
